Three Tips on How to Prepare for a State Sales Tax Audit

The expert will organize and arrange all the necessary documents needed so the Sales Tax Audit will be done swiftly and effectively. An expert will also provide knowledgeable guidance about any pending or existing problem regarding the business audit.

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Atlanta, GA -- (SBWire) -- 04/07/2015 --In all businesses, being under the scrutiny of the Department of Revenue is not good news. It may even be a burden some experience for some. All business owners should be prepared with assistance in facing state sales tax audit.

State Sales Tax Audit are time consuming and troublesome. The biggest possible challenge that a business may face is the sales and use tax audit. If the Department of Revenue decided to do a routine check on a business, it will mean that the business owner has to prove that the correct amount of sales tax was remitted to the Department of Revenue. It is best to be prepared at these difficult times by following three basic tips from the experts.

1 – Organize Records: Sales transactions will be evaluated by the Department of Revenue. It is best to keep efficient and complete documentation as a support to the individual transactions made by the company. It is also best to have these records readily accessible to the auditor. The Department of Revenue and the auditor will check and evaluate if the amount spent for taxes are valid and accurate. The auditor will also require the business to show sales tax returns, excise tax returns, documentation for use tax, retail sales tax, business and occupational tax and all critical records related to the business. Thus, keeping clean and organize records is a must for all businesses.

2 –Keep the Audit Process Within Grasp: State Sales Tax Audit is troublesome and requires a lot of time. The Department of Revenue and auditor will make a thorough and detailed examination and validation of the sales records. When all transactions are documented properly, fast and better audit is guaranteed. It is also best to have cash registers ready as well as tax exemption certificates for the audit.

3 – Consult a Professional: It is always best to seek the advice of a sales tax audit expert with all the knowledge in computing sales tax rates and organizing documentations and paper works for tax audits. The expert will organize and arrange all the necessary documents needed so the Sales Tax Audit will be done swiftly and effectively. An expert will also provide knowledgeable guidance about any pending or existing problem regarding the business audit.

The Department of Revenue has a system for selecting taxpayers for auditing. They use a variety of selection methods. A few taxpayers were chosen because of their size, sales volume or the company's tax return. Others are being chosen because of their location, bankruptcy or any other specific events. The tips mentioned above can help a business in any scenario they might be experiencing at the moment.

About Interstate Tax Strategies, P.C
When it comes to Atlanta tax services, Interstate Tax Strategies, P.C. is unique in its exclusive focus on interstate sales and use tax. Ned Lenhart, CPA, is President of Interstate Tax Strategies and has been perfecting his tax consulting skills for over 27 years. He started Interstate Tax Strategies, P.C. in 2003 after serving as a Firm Director for Deloitte in its Atlanta office. Prior to joining Deloitte in 1994, Ned was a Sr. Manager with Arthur Andersen in Kansas City, Missouri. Ned also worked for the Missouri Department of Revenue where he was the Director of the Compliance Division and led the state's civil and criminal tax enforcement efforts. He also served as Deputy Director of the Division of Taxation and Bureau Manager for the Compliance Division.

Media Relations Contact

Dimitry Vital
Interstate Tax Strategies, P.C
212-351-6097
http://www.salestaxstrategies.com/

View this press release online at: http://rwire.com/590725